Building permits give mixed picture

The Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices during August 2005 stood at 597 for a month-on-month decline of 2.8% compared to July 2005, but up a highly satisfactory 29.5% year-on-year compared to the number of building permits issued in the same month a year ago.

The total value of these permits reached CYP 87,4 mln, up 63% y/y but down 12.7% m/m and the total area 221,3 thousand square metres, up 66.1% y/y but down 13.4% m/m. These building permits provide for the construction of 1.221 dwelling units.

During the period January – August 2005, 5.686 building permits were issued, registering an increase of 5,0% compared to the corresponding period of the previous year. The total value of these permits increased by 18,8% and the total area by 16,7%. ?he number of dwelling units showed a rise of 31,5%.